Financial development and environmental degradation: insights from European countries

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F24%3A101521" target="_blank" >RIV/60460709:41110/24:101521 - isvavai.cz</a>

Result on the web

<a href="https://www.tandfonline.com/doi/full/10.1080/00036846.2024.2364087" target="_blank" >https://www.tandfonline.com/doi/full/10.1080/00036846.2024.2364087</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1080/00036846.2024.2364087" target="_blank" >10.1080/00036846.2024.2364087</a>

Result language

angličtina

Original language name

Financial development and environmental degradation: insights from European countries

Original language description

We investigate the relationship between financial development and environmental quality during 1996-2019 in a panel analysis of 40 European countries, of which 28 EU and 12 non-EU member countries. We built four empirical models to check the connection between financial development and environmental degradation while controlling for GDP growth, trade openness, FDI, and energy consumption. We applied the Dynamic Common Correlated Effects (DCCE) estimator because of cross-sectional dependence (CSD) among the panel cross-sections. Our findings report a positive association between financial development and environmental degradation for the entire panel of European countries. The subsequent analysis of sub-groups shows that this is particularly the case for non-EU member countries and countries with a high level of financial development. Furthermore, there is a bidirectional causality between financial development, energy consumption or trade openness, and environmental degradation in European countries.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2024

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

APPLIED ECONOMICS

ISSN

0003-6846

e-ISSN

0003-6846

Volume of the periodical

Neuveden

Issue of the periodical within the volume

Neuveden

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

21

Pages from-to

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UT code for WoS article

001243825200001

EID of the result in the Scopus database

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